APPROVAL GRANTED FOR TRANSACTION IN THE COMMERCIAL AIRCRAFT MAINTENANCE SECTOR

The Competition Council has approved the acquisition by Willis Mitsui & Co Engine Support Limited of 100% of the shares in Bridgend Asset Management Limited and the takeover of sole control of the company. As part of the transaction, the Japanese company Mitsui & Co. Ltd. has also been authorised to enter into agreements with Willis Mitsui & Co Engine Support Limited regarding the transfer of work and employees, thereby expanding the latter company's field of activity.

The merger notification was received on 13 May 2025. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed merger will not result in the creation or strengthening of a dominant position or significant restriction of competition in the relevant markets.

Willis Lease Finance Corporation is a United States company that provides commercial aircraft and engine leasing services to airlines, aircraft engine manufacturers, air cargo carriers and maintenance companies worldwide. The company's affiliates in Lithuania provide aircraft and engine leasing, engine repair, maintenance base and aviation consulting services.

Mitsui & Co. Ltd. is engaged in mineral and metal resources, energy, infrastructure projects, mobility, chemicals, iron and steel products, food products, healthcare, IT, business development and other areas. The company's affiliates in Lithuania trade in chemical products and animal feed additives and distribute plant protection products.

Willis Mitsui & Co Engine Support Limited is jointly controlled by Willis Lease Finance Corporation and Mitsui & Co. Ltd., which is engaged in aircraft engine leasing. This company has no branches or assets in Lithuania and does not generate any income. Following the transaction, Willis Mitsui & Co Engine Support Limited will expand its scope of activities to include aviation consulting and remarketing services.

The intended merger must be notified to the Competition Council and cleared if the combined total revenues of the merging parties in the last year before the merger exceed EUR 20 million and the total revenues of each of at least two merging parties in the last year before the merger exceed EUR 2 million.